Theme: Facing the Challenges of Economic Recovery.
Cde. Speaker, I move the motion for the approval of the Estimates of Expenditure for 1989.
The 1989 programme of the government aims at nothing less than the radical adjustment of Guyana’s economy and the lifting of its productive capacity, 1989 represents the first year of a three-year joint initiative with the international financial community to effect an improvement in our economic performance.
You will no doubt recall Cde. Speaker, that as early as 1985 and more recently in 1987 and 1988 the Government of Guyana, with very little external financial support, and recognising the need for the urgent resuscitation of the economy, embarked upon some extensive economic reforms. The extent of the imbalances faced by the economy however, did not permit the completion of this task within a reasonable period of time without external support. For this reason we moved in 1987 and 1988 to secure international financial support.